Is Real Estate Evergreen or a Phoenix?

Posted By Cliff Tuttle | November 16, 2015

No. 1,232

Summary: Some say that real estate practice for lawyers  is making a comeback.  Maybe it is.  But a young lawyer taking up real estate practice should not be a one trick pony. 

I read a piece on the ABA Journal Web Site in which a legal recruiter stated that real estate transactional work, including residential real estate, is soon going to be one of the hottest fields of law.

Maybe it will.  I’ve seen the real estate transactions  market crash and burn numerous times.  And then, miraculously, it rises from the ashes.

The demand for real estate never dies.  It just goes into hiding.  It flourishes in good times. But consumer confidence is fragile. When people are afraid, they don’t buy and they don’t borrow.  But they don’t cancel their plans, they only postpone them.  And when confidence returns, and it always has, they are back in the market again.

I’m not advising young lawyers to stay away from real estate.  On the  contrary.  But develop another specialty or two to carry you through the dry spells.

CLT

Welcome

CLIFF TUTTLE has been a Pennsylvania lawyer for over 45 years and (inter alia) is a real estate litigator and legal writer. The posts in this blog are intended to provide general information about legal topics of interest to lawyers and consumers with a Pittsburgh and Western Pennsylvania focus. However, this information does not constitute legal advice and there is no lawyer-client relationship created when you read this blog. You are encouraged to leave comments but be aware that posted comments can be read by others. If you wish to contact me in privacy, please use the Contact Form located immediately below this message. I will reply promptly and in strict confidence.

Subscribe to our feed